So you’re an expert, but business could be better. Uh Oh.

You may have been told that the more you invest in becoming a thought leader, an expert, and an authority, that clients would be beating a path to your doorway. Yes, some do find their way to you, but you know there should be more.

Why is that, and what can you do about it?

Building a business lives at the intersection of “You asking” and “Their needing.” It doesn’t live at the intersection of “I’m an expert” and “I’ll just wait around”.

There are actually five key obstacles that prevent experts from monetizing their knowledge. Thinking about your business honestly, how would you answer these questions?

1) Is it possible that those who need your knowledge don’t know about you? The expression “fish where the fish are” applies: Make sure that your expertise is actually seen by prospective clients. This can include everything from writing, speaking, video, and networking. Just make sure that these activities take place where your prospects can see them: if you’re an expert in finance, for example, you probably should not be networking with hair salon owners.

2) Is it possible that there is no market for your expertise? There may have been at one time, but the market may have moved on, while you haven’t. Plenty of examples here, from shoe cobblers to Y2K experts. And with the advent of AI, there will be plenty of others who suddenly find that the market for their services has dried up.

3) Is it possible that you are not responsive, or are hard to work with? In some cases, experts develop an arrogance that media, prospects, clients, and referral sources find off-putting. And this translates into a poor reputation, and no new business.

4) Is it possible that you actually are NOT an expert? You may have expertise, but if others in your market are the true experts, it’s not reasonable to expect that prospects will gravitate to you instead of them. The weaker your REAL expertise, the more you’ll need to shake the trees to get business.

5) Is it possible that you never really ask people for business? While it is nice to think about that Caribbean vacation just by sitting and waiting, you’ll never actually get there unless you buy a ticket and hop on a plane. Translating a lead into a client is an actual skill. It is unreasonable to think that since you’re an expert in one area, that you are also expert at closing a sale.

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